Target restates commitment to its India operation

-- Home Textiles Today, 1/19/2010 9:37:00 AM

Minneapolis – Looking to quell rumors about supposed plans to sell its India-based operations, Target Corporation today “firmly restated” its commitment to Target India business in Bangalore.

The company said it “emphatically refutes the irresponsible rumor” that it is engaged in any discussions, or has any plans, to sell its Target India operations. This is the second time in three months Target has issued such a statement regarding the Indian division.

Target Corp. does know the source of “this ridiculous speculation,” but called it “unequivocally not true,” added Tim Baer, evp and general counsel of Target Corporation.

Target India, which employs about 2,100, “continues to more deeply integrate the work of its Bangalore teams with its U.S.-based teams,” the company said.

Beth Jacob, evp and chief information officer of Target Corp., described Target India’s captive center in Bangalore as an ongoing “important part of our long-term strategy and is highly integrated with our work and team in Minneapolis.”